Loadstar was founded by a Belgian investor and Jinasena, a Colombo-based engineering group. The firm has a plant in Ekala, north of Sri Lanka’s capital Colombo.
The business was renamed Camso Loadstar in 2015.
Sales have decreased – substantially – for Sri Lanka based manufacturer of solid tyres, Loadstar. At a recent forum, company chairman Nihal Jinasena admitted that “the bottom has dropped out of our order books.” And further compounding Loadstar’s problems are the costly forward deals for raw materials the company is locked into.
(Akron/Tire Review – The International News (Sri Lanka) One of the world’s biggest solid tyremakers is trying to double its turnover and turn Sri Lanka into a key exporter of rubber products.Raw rubber has been the country’s second largest export commodity after tea, but a Belgian-Sri Lanka joint venture is trying to re-invent the way wheels are made and make the island a global hub for tyres.
Solideal Loadstar is one of Sri Lanka’s best-kept secrets and its biggest exporter, accounting for just over two per cent of the nation’s near seven billion dollar export earnings. “In the world market, we now control 20 per cent in the solid tyre and about five per cent in the industrial tyre markets,” chairman Nihal Jinasena told AFP.
“Any fool can make a tyre,” said Jinasena, whose family controls 40 per cent of Solideal Loadstar. “What is difficult is to keep innovating, penetrate markets worldwide and to support your sales.”
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